TLDR:
Grayscale adds 28 assets to its watchlist in July 2025 portfolio update.
AI, DeFi, and smart contract tokens lead the newly categorized list.
Financial services category includes BNB, HYPE, Ethena, and Kamino.
AI-linked tokens like Grass and Prime Intellect reflect new focus areas.
Grayscale has expanded its list of digital assets under review, spotlighting emerging trends in AI, smart contracts, and financial services.
The update, released on July 10, 2025, restructures the asset manager’s “under consideration” list by category. This shift reflects Grayscale’s broader effort to standardize crypto classification under its Crypto Sectors framework. It also aims to guide future investment products based on evolving blockchain trends.
As the crypto market diversifies, Grayscale is positioning itself to track promising assets across various verticals.
Smart Contract Platforms and Financial Services Take Center Stage
Grayscale’s revised watchlist shows increased focus on smart contract infrastructure.
Newly tracked names include Celo, Mantle, Monad, Toncoin, and MegaETH. These join existing platforms like Ethereum, Solana, and Avalanche, pointing to rising interest in Layer-1 and Layer-2 networks.
Financial services tokens made up the largest segment of new additions. Assets such as BNB, Ethena, Hyperliquid, Kamino Finance, Morpho, and Plume Network reflect a broader tilt toward DeFi protocols. Projects offering lending, trading, and liquidity tools appear to align with Grayscale’s strategic review of investable DeFi infrastructure.
Artificial intelligence-linked tokens were also included in the latest list. New mentions like Aixbt, Grass, Prime Intellect, and Virtual show how AI-related crypto tools are being tracked more closely.
This reflects an increasing overlap between AI innovation and blockchain platforms.
Grayscale also updated its utility and services segment. Jito, Walrus, Wormhole, and LayerZero were added to the watchlist, joining names like Chainlink and Filecoin. These projects aim to deliver interoperability, data infrastructure, and enterprise-focused blockchain applications.
Grayscale’s Broader Strategy on Product Development
According to its blog post, Grayscale maintains two core lists: one for tokens in existing products and another for those under review.
The current update includes assets that may be added to future single or multi-asset products. The firm intends to review and adjust this list quarterly, with the possibility of intra-quarter changes based on fund rebalancing.
Wu Blockchain, a crypto-focused reporting account, flagged the July update as a sign of Grayscale’s shifting priorities. The account highlighted tokens like Bonk and Playtron under the consumer category, suggesting possible attention to user-facing crypto projects.
Grayscale updated its list of assets under consideration on July 10, 2025, structured according to its Crypto Sectors framework. Newly added candidates include smart contract platforms such as Celo, Mantle, Toncoin, MegaETH, and Monad; financial assets like Aerodrome, BNB,…
— Wu Blockchain (@WuBlockchain) July 10, 2025
This expanded watchlist may guide institutional sentiment as interest grows in diversified crypto products.
By spotlighting assets in emerging sectors, Grayscale is signaling the areas it believes warrant deeper investment consideration. The inclusion of AI, utility, and DeFi assets suggests that investor appetite is broadening beyond just Bitcoin and Ethereum.
As crypto matures, Grayscale’s structured framework could help shape how investors evaluate new opportunities in the space.
